Be­sides, the ex­change also submitted a study con­ducted by Hy­der­abad-based In­dian School of Busi­ness (ISB) to de­ter­mine whether cer­tain NSE bro­kers made any ab­nor­mal prof­its from the pref­er­en­tial ac­cess they got to the servers of the ex­change through the co-lo­ca­tion fa­cil­ity.

Ear­lier, Deloitte, af­ter a foren­sic au­dit of the eq­uity de­riv­a­tives plat­form, had named a few bro­kers who had prof­i­teered from this fa­cil­ity.

Sebi will now out­line a fu­ture course of ac­tion based on the find­ings of the re­ports.

"The NSE today submitted to the Se­cu­ri­ties and Ex­change Board (Sebi) the re­ports pre­pared by EY and ISB re­lat­ing to the co-lo­ca­tion mat­ter, that is be­ing re­viewed by Sebi," the ex­change said in a re­lease.

The case re­lates to some bro­kers al­legedly get­ting pref­er­en­tial ac­cess to NSE servers through the co-lo­ca­tion fa­cil­ity, early lo­gin and ac­cess to the 'dark fi­bre'which can al­low them a split-sec­ond faster ac­cess to the data feed of the ex­change. Even a split-sec­ond faster ac­cess can yield huge gains for a trader.

In July, the NSE had ap­proached Sebi to set­tle the case through the con­sent mech­a­nism. The Sebi has not re­sponded to the pro­posal as yet, though.

The con­tro­versy has de­layed NSE’s IPO plans. Its ri­val BSE has al­ready gone pub­lic in Jan­uary.